Ripple CEO Brad Garlinghouse criticized Senate Democrats after the Senate voted Tuesday against advancing the CLARITY Act, saying extensive industry lobbying had made the result painful and left consumers and U.S. competitiveness behind. Democrats cited ethics provisions they said did not adequately address potential conflicts involving President Donald Trump’s crypto interests, while several Republicans also opposed advancing the measure. Garlinghouse called for a post-mortem but said the setback could increase the importance of rulemaking by the Securities and Exchange Commission under Chair Paul Atkins and the Commodity Futures Trading Commission under Chair Michael Selig. The agencies issued joint guidance in March on applying federal securities laws to digital assets, and Ripple plans to participate. Ripple Chief Legal Officer Stuart Alderoty said the vote did not change XRP’s regulatory position, citing the March interpretation that lists XRP among digital commodities. Separately, Circle Internet Group shares fell 5.14% to $81.86 at publication as Circle launched Arc’s public mainnet, a Layer 1 blockchain for financial markets with native USDC integration and founding validators including BlackRock, Mastercard and Visa. USDC circulation exceeded $74 billion.